IGNITE YOUR BRAND.
EXCEED EXPECTATIONS.
Case Study
A brand team relaunching a newly acquired product in the pain management category believed their strongest payer value was their product’s abuse deterrent formulation. They produced marketing materials based on data proving their brand’s capacity to prevent abuse. Fast forward six months and the brand continued to suffer from lack of formulary coverage. Moreover, the few formulary wins achieved by account management were only gained by sacrificing profitability. Every day, more brand goals were missed and company leadership became increasingly unhappy.
For some reason, the message was not resonating with payers.
Find out how the brand uptake ignited.
Define value from your customer’s perspective
The healthcare market is undergoing seismic shifts that are altering customers’ needs and behavior. New and influential market drivers are being enforced. For example, Medicare’s new payment and delivery system reform (associated with MACRA), aims to improve patient care and overall quality without increasing costs. Many brands are now challenged to transform their approach in an effort to prove their benefit related to value-based care.
Clinical dynamics are also at play. Therapeutic diversity, along with increasing numbers of competitors and decreasing differentiation between products are all converging, which challenges your brand’s opportunity to stand out. In addition, many brands now have multiple indications, while others are targeted for specific sub populations.
All of these factors point to the need for strong product differentiation and explicit communication regarding the distinct value your brand brings to organized customers. Brands lacking a firm understanding of the value their product provides to meet variable customer needs are at a competitive disadvantage.
Create the promise of value and prove it
Creating a distinctly different mechanism of action for a pharmaceutical product does not guarantee it will meet the needs of payers, provider organizations, and their patients. The only possible way to meet organized customer needs is to demonstrate how your brand improves the standard of care in areas customers care about.
Your brand’s value proposition should highlight key differentiators from your customers’ perspective that make your product superior to its competitors. This value then becomes the foundation for clear, concise, and compelling brand messaging that underpins all of your promotional programs and materials.
Brand value must be substantiated by credible supporting evidence that can withstand advanced formulary management, guideline recommendations, and emerging technological assessment criteria. This creates the opportunity to enhance rapid product uptake and propel your product throughout its life cycle.
Quote by Peter DruckerNinekey elements of an
impactful value proposition
1.
It identifies current and potential customers’ unmet needs.
2.
It pinpoints competitors’ strengths.
3.
It distinguishes brand differentiators vs. its competitors.
4.
It recognizes the value drivers for access.
5.
It identifies what customers value most about the brand.
6.
It promotes the benefits of the brand vs competitors.
7.
It provides strong proof of the benefits to substantiate the value.
8.
It reflects the target customers’ priorities and decision drivers.
9.
It is meaningful, credible, and sustainable.

Almost every client I've ever worked for who is seeking greater market share has had no clear value proposition. Leisa Reichelt

Examine your brand promise
before sales fail to accelerate or begin to decline

A weak value proposition fails to effectively demonstrate and communicate how your product can meet customers’ needs, which leads to lackluster sales performance and inefficient use of marketing resources and budget. Your payer and provider organization customers are left questioning how and why they should use your brand, where it fits into their treatment pathways, and what makes your brand better than its competitors.

Evolve your brand message to stay ahead of the competition
To remain as robust, impactful, and current as possible, your value proposition must change and grow as new competitors enter the marketplace, standards of care are updated, healthcare policies are modified, and your customers’ needs shift.
Overcoming an embedded perception of lack of value can be difficult, expensive, and prohibitive to maximizing sales potential. Given rapidly changing market levers, it’s important to reevaluate your brand value proposition often, likely once a year.

Lit Match

EPILOGUE
The marketing team charged with course-correcting the flagging pain management brand hired Aventria. Subject matter experts at Aventria promptly initiated their proprietary “Taking Promise to Performance” value proposition development process.
The analysis revealed, relative to abuse deterrence, the brand would only save the payer a small amount per patient per year. This savings was immediately overshadowed by the premium cost of the brand compared with a generic. The brand’s targeted customers had been quick to recognize the lack of value.
In contrast, Aventria discovered that payers could derive significant value from the brand’s ability to reduce inpatient spending and costs associated with constipation. In fact, these two factors combined offered almost 36 times more value to a payer than the abuse deterrent factor.
Ultimately, Aventria crafted a brand value proposition targeting payers with a much more impactful “reason to believe.” Further, the value propositions crafted for employers and providers were markedly different than the payer version. With the new brand story woven into marketing and training materials, account managers were able to book new meetings with payer customers. Brand uptake improved almost immediately.
By Paul G. Pochtar RPh, SVP, Pharmaceutical Commercialization and Market Access and Cindi Caciolo SVP, Copy Director

Aventria’s proven strength is our exceptional subject matter expertise to create strategies, competitive differentiation, and value propositions. We accomplish this with our proprietary “Taking Promise to Performance” process, which is built upon 4 pillars:
• Holistic understanding – applying expertise to identify channel opportunities• Solutions mapping – converting customer insights into strategy• Total factor execution – unlocking competitive leverage• Results scorecarding – quantifying results with our clients

To learn more about how Aventria can help you develop a strong value proposition through our ”Taking Promise to Performance” process, visit us at Aventriahealth.com
Taking promise to performance
We turn market access into a competitive advantage.